Your friend runs a business of hand sanitizers. If the price per unit is 20 taka and his total revenue is 193 taka, how many units of product did he sell? Please give your answer in 2 decimal places. Now, the demand for hand sanitizers is inelastic Would you suggest your friend to increase the price of the hand sanitizers? (Yes or No) One word Answer

Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter19: Elasticity
Section19.1: Elasticity: Part 1
Problem 1ST: On Tuesday, the price and quantity demanded are 7 and 120 units, respectively. Ten days later, the...
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Your friend runs a business of hand sanitizers. If the price per unit is 20 taka and his total revenue is 193 taka, how many units of product did he sell?
Please give your answer in 2 decimal places.
Now, the demand for hand sanitizers is inelastic .
Would you suggest your friend to increase the price of the hand sanitizers? (Yes or No)
One word Answer
Transcribed Image Text:Your friend runs a business of hand sanitizers. If the price per unit is 20 taka and his total revenue is 193 taka, how many units of product did he sell? Please give your answer in 2 decimal places. Now, the demand for hand sanitizers is inelastic . Would you suggest your friend to increase the price of the hand sanitizers? (Yes or No) One word Answer
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